Indonesian palm oil producer eyes US$150m IPO
2013-04-23 11:10:42
Indonesian palm oil producer PT Dharma Satya Nusantara aims to raise up to US$150 million through an initial public offering in the second quarter this year, reports Business Times. Dharma Satya, a joint venture between Indonesian tycoons Teddy Rachmat and Benny Subianto, produced 600,000 tonnes of palm oil in 2012. Palm oil companies in Indonesia are looking to tap excess liquidity in the stock market. PT Dharma Satya will be the third palm oil producer to go public in Indonesia this year after PT Multi Agro Gemilang and PT Austindo Nusantara Jaya, which launched a $175 million IPO this week.